The 'town' I live in has a population of about 50. The next nearest small town has a population of around 200 and then there's the regional city close to an hour away with a population of approx 100,000.
I LOVE where we live. We're on the highway to the regional city, but we are a fairway off it so the traffic doesn't really bother us. It just means that our house is easy to get to.

The nearest school is 30kms away, but it encompasses the kindergarten as well as grades prep-year 12. The kids get to catch a bus to school (no charge) and the 4yo's even catch it to kinder (we have to drive out and pick them up as they finish earlier than the buses leave), but the transition into prep next year will be so seamless and DS LOVES it.

We are involved in a lot of local sporting groups and community groups. I feel like what we do for others out here actually MATTERS.

We can make as much noise as we like and it doesn't bother anyone - that's a BIG pro for us!

The only cons I have really come across is the long drive into the regional city and the lack of employment and childcare for our family.

I can't just duck to the shops if I need anything..... it's almost a 2 hour round trip.
The pro about that is, I can only rarely have take away which is awesome for my waistline!

I grew up in this regional city that we live 'near' and whilst it was good, I MUCH prefer being out of town. The kids have so much freedom and space to do what they want. It's the best move we ever made.